An app-based property management service backed by £7 million in investor funding and launched three years ago by a rising star of the tech world has begun offering itself for free to larger landlords.
Smaller landlords with a few properties are not included in the deal and will continue to pay a percentage-based property management fee. But larger landlords including build-to-rent firms can now use the service for free and Residently tells LandlordZONE that it will make money from referral fees it will earn from tenants who order broadband, removals and lifestyle services through its app.
Like many apps in this field Residently has digitised the rental process and offers landlords of all portfolio sizes a way to rent their homes out without face-to-face contact.
The app’s founder and CEO Tom Allason (pictured), who claims landlords can use it to rent out a property from virtual viewing to signed contracts within five minutes, now believes his tech’s time has come given the social distancing restrictions of Covid.
“In the last few months, we’ve watched the contactless rental process that we’ve built go from a ‘nice to have’ to an absolute necessity,” says Allason.
“Not to mention, it’s never been more important for renters to feel ‘at home’ and cared for. We hope that by making our platform free, we can partner with companies across the industry to support their residents during this time.”
Although the app is useful for landlords of all sizes, the company’s main focus is on larger portfolio and build-to-rent operators, letting agents and property managers.
Residently’s biggest customer is property management and rental giant Touchstone which manages over 20,000 properties withing the UK.
“Technology is crucial in creating the very best experience for customers, and we’ll help support this ground-breaking approach, ensuring a smooth, frictionless experience when renting a home,” says Helen Kings, Touchstone Managing Director.